Debt Management |
IVA |
Bankruptcy |
|
| Protection from all unsecured creditors. | No |
Yes |
Yes |
| Long term, likely to save money. | No |
Yes |
Yes |
| Avoids selling house to release equity. | Yes |
Yes |
No |
| Unsecured creditors legally obliged to write off the debt. | No |
Yes |
Yes |
| Creditors who don’t want to help legally obliged to do so. | No |
Yes |
Yes |
| Arrangement runs for a fixed period. | No |
Yes |
Yes |
| Debts cleared over an agreed period. | No |
Yes |
Yes |
| Part of debt written off. | No |
Yes |
Yes |
| Creditors stop chasing for payment. | Sometimes |
Yes |
Yes |
| Avoids the stigma of bankruptcy. | Yes |
Yes |
No |
| Stops affairs being made public in local newspaper. | Yes |
Yes |
No |
| Stops interest building up. | No |
Yes |
Yes |
| Credit rating affected. | Yes |
Yes |
Yes |
| Service provided by a qualified professional, specialised in consumer debt and licensed. | No |
Yes |
Yes |
Please contact us for specific, individual debt advice